Rwanda: Electricity power station project on Lake Kivu gets guarantee from MIGA

The Multilateral Investment Guarantee Agency (MIGA), an institution which is a member of the World Bank group, has just awarded an investment guarantee to support the ContourGlobal KivuWatt project, reports a press release from the Agency, published on May 5.

The project, with an estimated cost of 142 million dollars, comprises the construction on Lake Kivu, Rwanda, of an integrated plant for the extraction and production of methane gas and an electricity power station, which will have a capacity of 25 MW.

The plant will extract the methane which is present in the waters of Lake Kivu and process it so it can be used for fuel to generate energy.

Works are already under way on the barge housing the gas extraction installations, and the construction of the electricity power station will start in May 2011.

The project ContourGlobal KivuWatt should reduce the cost of electricity and, as a result, stimulate the economic growth of Rwanda.